{"id":14466,"date":"2018-03-29T00:00:00","date_gmt":"2018-03-28T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2018\/03\/29\/dashs-amanda-johnson-we-want-the-people-who-arent-interested-in-crypto\/"},"modified":"2021-09-18T11:37:35","modified_gmt":"2021-09-18T11:37:35","slug":"amanda","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/amanda\/","title":{"rendered":"Dash\u2019s Amanda Johnson: \u2018We Want the People Who Aren\u2019t Interested in Crypto\u2019"},"content":{"rendered":"<p>Dash has made some large strides toward accessibility and widespread merchant integration since its inception in 2014.<\/p>\n<p>Recently, Finance Magnates caught up with\u00a0<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/interview\/dashs-amanda-b-johnson-talks-future-cryptocurrency\/\">Amanda B. Johnson<\/a>, the official spokesperson for Dash. We asked Johnson about Dash\u2019s plans for the future and how the network\u2019s infrastructure affects centralization.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/869rPb3TQG4\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2 id=\"well-be-the-first-cryptocurrency-that-doesnt-feel-like-cryptocurrency\">\u2018We\u2019ll be the first cryptocurrency that doesn\u2019t feel like cryptocurrency\u2019<\/h2>\n<p>The unique thing about Dash, explained Johnson, is that it is \u201ccurrently under very active and rigorous development to become the first cryptocurrency that does not look or feel like a cryptocurrency.\u201d Accordingly, \u201c[Dash\u2019s] target audience is the kind of person who is not interested in cryptocurrency.\u201d<\/p>\n<p>More specifically, this is \u201canyone who feels uncomfortable with the appearance of<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/blockchain-warns-of-duplicate-bitcoin-addresses-on-android\/\">\u00a0cryptographic addresses<\/a>, myself included,\u201d she said. \u201cIt\u2019s people who are accustomed to the use of a username and password that should be able to log them into the same account from any device.\u201d<\/p>\n<p>Johnson went on to say that in fact, these two features (the replacement of a cryptographic address with a \u201chuman and readable\u201d username and a password that can be used to access \u201cwhat will effectively be a Dash account\u201d) were recently demonstrated in the Dash testnet; they are expected for public release sometime in the second half of this year.<\/p>\n<h2 id=\"dash-aims-to-offer-what-current-banking-systems-offer\">Dash aims to offer what current banking systems offer<\/h2>\n<p>She also said that Dash is planning a future that will in some ways closely resemble existing banking systems. \u201cThere\u2019s so much more that the current banking system offers people that the developers in\u00a0<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/dashs-12-2-software-upgrade-reduces-fees-increases-speed\/\">Dash\u00a0<\/a>think that we need to offer as well if we\u2019re going to be able to compete in everyday, \u2018let\u2019s-buy-a-cup-of-coffee\u2019 payments.\u201d<\/p>\n<p>For example, interest bearing accounts. Johnson said that one of the reasons that banks have become such an important financial pillar of our society is because earning interest incentivizes people to use them. One of the Dash network\u2019s long-term goals is to share funds that the network earns through fees with users in \u201cwhat will look to them like an interest-bearing\u00a0<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/stellar-envisioned-for-savings-accounts-for-unbanked-in-africa\/\">savings account<\/a>.\u201d<\/p>\n<p>Bitcoinist\u2019s Allen Scott Explains Shift in Crypto Markets, News Industry<a href=\"https:\/\/www.financemagnates.com\/thought-leadership\/thought-leadershipbitcoinists-allen-scott-explains-shift-in-crypto-markets-news-industry\/\">Go to article\u00a0\u00bb<\/a><\/p>\n<p>In addition to interest-bearing accounts, Johnson said that Dash also plans to enhance privacy features and to provide easier access to the InstantSend feature. She explained that the latter feature is especially important because \u201cit makes point-of-sale possible.\u201d<\/p>\n<p>Johnson explained that Dash also has plans for integration into financial institutions and companies. The network recently hired Bradley Zastrow, \u201cwho comes to the Dash Core group from having worked on business integration for American Express.\u201d She said that this was \u201cprecisely what the Dash network as a whole wanted.\u201d<\/p>\n<p>\u201cThe strategy thus far has been to get Dash integrated into businesses that were formerly quite often Bitcoin-only business, but as Bitcoin-only businesses, they (more than anyone) were feeling the pinch of the increasing fees within Bitcoin.\u201d She said that those increasing fees translated to less customer purchases, citing BitRefill, BitWage, and\u00a0<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/exchange\/payza-adds-50-bitcoin-alternatives-cryptocurrency-exchange\/\">Payza\u00a0<\/a>as examples. All three companies recently integrated Dash payments.<\/p>\n<h2 id=\"masternodes-and-centralization\">Masternodes and centralization<\/h2>\n<p>Masternodes play an important role on the Dash network. Among other things, they are responsible for governance and confirming the majority of the network\u2019s transactions. In order to become a\u00a0<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/innovation\/dash-masternode-service-provider-node40-unveil-portfolio-insight-reports\/\">masternode<\/a>, a node needs to have \u2018locked in\u2019 1000 Dash tokens; they cannot spend or move the tokens without losing their status.<\/p>\n<p>Some voices in the crypto community have expressed concerns about masternodes centralizing the Dash network. We asked Johnson about the ratio of token ownership between masternodes and regular users. \u201cThere are around 4700 masternodes at this time, and about eight million Dash tokens in existence at this time,\u201d which means that a little more than half of all Dash tokens are in the possession of masternodes.<\/p>\n<p>Johnson explained that \u201cwhen you compare the rough estimations [of coin ownership ratios] to the rough estimations of other coins, Dash actually comes out on the higher end of decentralization.\u201d<\/p>\n<p>She said that she believes the reason for this is \u201cthat the masternodes are paid. With that incentive there, newcomers are attracted to our network, whereas in a network where nodes are not paid, there\u2019s no incentive for a brand new investor who wants to get involved in a cryptocurrency to run a node, or to keep coins of a network\u2013there\u2019s really only incentive for businesses who are highly reliant on a particular blockchain to run a node.\u201d<\/p>\n<p>\u201cIt\u2019s actually the opposite of what most people think\u2013unpaid positions create centralization overtime, whereas paid positions create<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/no-taxation-without-decentralization-irs-closes-crypto\/\">decentralization<\/a>\u00a0overtime,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dash has made some large strides toward accessibility and widespread merchant integration since its inception in 2014.<\/p>\r\n","protected":false},"author":1,"featured_media":14496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - 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